Mitsubishi UFJ Financial Group (NYSE:MUFG) Shares Gap Up - Time to Buy?

Key Points

• Mitsubishi UFJ Financial Group's shares opened at $16.11 after a prior close of $15.34, with recent trading showing a last price of $15.99 and a volume of 514,729 shares.
• Wall Street analysts have upgraded the stock from a "sell" rating to a "hold" rating, reflecting growing confidence in the company's performance.
• The company reported earnings of $0.32 per share, exceeding estimates of $0.29, with revenues reaching $22.10 billion compared to the estimated $9.86 billion.

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $15.34, but opened at $16.11. Mitsubishi UFJ Financial Group shares last traded at $15.99, with a volume of 514,729 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th.

Mitsubishi UFJ Financial Group Stock Up 1.0%

The company has a market cap of $185.42 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The company has a 50 day moving average of $13.99 and a 200-day moving average of $13.29. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.89.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $9.86 billion. Mitsubishi UFJ Financial Group had a return on equity of 9.35% and a net margin of 13.95%. On average, equities analysts predict that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

A number of large investors have recently modified their holdings of MUFG. Fisher Asset Management LLC boosted its stake in Mitsubishi UFJ Financial Group by 17.4% in the second quarter. Fisher Asset Management LLC now owns 89,513,174 shares of the company's stock worth $1,228,121,000 after buying an additional 13,275,383 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Mitsubishi UFJ Financial Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 12,652,332 shares of the company's stock worth $172,451,000 after acquiring an additional 288,583 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Mitsubishi UFJ Financial Group by 8.4% in the 1st quarter. Northern Trust Corp now owns 11,407,268 shares of the company's stock worth $155,481,000 after acquiring an additional 885,189 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Mitsubishi UFJ Financial Group by 9.2% in the 1st quarter. Natixis Advisors LLC now owns 10,756,565 shares of the company's stock worth $146,612,000 after acquiring an additional 905,674 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake in shares of Mitsubishi UFJ Financial Group by 4.2% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 6,197,764 shares of the company's stock valued at $84,476,000 after purchasing an additional 247,508 shares in the last quarter. 13.59% of the stock is owned by hedge funds and other institutional investors.

About Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group, Inc operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets.